Most people consider entrepreneurship as hard, difficult and tiresome work, and business success as something that only happens to few lucky individuals. Although in certain cases an entrepreneurship project will keep you awake for days and make you spend days and nights in front of your computer, business success is something that happens to ordinary and hard-working people. In most cases it comes as a consequence of smart decisions and innovative procedures that make your company business simpler. In this article we will list several simple changes that will boost your company’s revenue and growth and make you think you are one of the lucky few.
1. Make your business personal
You probably read that call centers are becoming increasingly unpopular and that product support quickly shifts towards Twitter and other real-time social networks. Customers don’t like machines answering their requests. Although fast development of artificial intelligence is one of the most popular tech trends today, customer service is still the area that requires caring human touch.
That’s why making your business more personal will have a great impact on the revenue it brings. Support issues need to be dealt with immediately by expert technicians who know what they are doing, and vouch for their expertise with their personal names and titles. At least once a day you, as an entrepreneur and a founder, should get in touch with one of your customers and solve their product issue, give them tones of promotional materials and samples and spread the word about your business. Keep your business personal and your customers close.
2. Video is worth billions of words
Video is the new black when it comes to social networks. Streaming entered digital marketing in a big way with popular Periscope app and Facebook featured video. Since video marketing is here to stay for many, many years (at least until virtual reality takes its torch), you should definitely start thinking about making your own promotional video and posting on different social network pages.
Companies that have bigger budget should use advanced and more expensive production that includes hiring professional actors, narrators and animators, flash mob filming or drone footage.
3. Well-written business plan can bring you big bucks
Although many small time entrepreneurs are trying to succeed solely on their own, running business without investors to back you up is almost impossible. That’s where a well-written business plan jumps in. Even if you don’t have great presentation skills, you can charm your investors with a well-written business plan that will convince them your business is efficient and potentially profitable. There’s no investor who would resist a well presented investment bargain, so start learning the business plan writing basics immediately or entrust this task to a most creative and skillful writer you know.
4. Expert help can save your company from bankruptcy
It can also save you from jail time, especially when dealing with tax-legislature. So if you have tax or any other legal doubts, always hire an expert to solve it. You should also be aware that many different tax and business-related laws vary from one country or state to another, so if your company is running business in Australia’s New South Wales, consider consulting Sydney-based tax lawyers, if you are doing business in Oregon, contact lawyers from Portland, Salem, or some other city in Beaver State, and so on.
5. Boost your employees’ productivity with creative incentives
Most employees are competitive and eager for boss’s attention. This fact is used by smart leaders to make their teams more productive with minimal investments. Organize small time competitions between people who work in different sectors, and take winners to dinners, give them free gym membership, or if you feel like making a big splurge, award your best employees with company shares. This is a unique way to tie valuable employee’s performance with their revenue, and it will make them more committed and productive on the long run.
Entrepreneurs need to constantly reinvent different procedures and make their business up to date with new trends and technology. That’s why these and many other small and useful tricks can make their life easier and their business more efficient and profitable. Those who keep up with the developing trends will be able to adapt to any threats much easier as opposed to others who don’t. So keep an eye out for new competitors and any new strategies they come up with, cause you’ll have to roll up your sleeves and come up with even better solutions in order to survive on the market.
About the author
John Stone is a business consultant and a regular contributor to Bizzmarkblog. A believer in the notion that thinking outside of the box is a prerequisite for being a successful entrepreneur.